Adapthealth Corp. · NASDAQ:AHCO
Adapthealth — Q1 2024 Earnings Presentation
11 slides from Adapthealth's earnings presentation, May 1, 2024
Slide 1: Financial Supplement Q1 2024
Financial Supplement Q1 2024
Slide 2: Disclaimer
Disclaimer This presentation contains "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. These statements, which express management's current views concerning future business, events, trends, contingencies, financial performance, or financial condition,
Slide 3: Summary Financial Results
Summary Financial Results Three Months Ended March 31, December 31, September 30, June 30, March 31, 2024 2023 2023 2023 2023 Sales revenue $ 506,140 $ 585,289 $ 532,125 $ 521,633 $ 492,255 Rental revenue $ 254,338 $ 272,945 $ 271,906 $ 271,653 $ 252,371 Capitated revenue $ 32,019 $ - $ - $ - $ - To
Slide 4: Q1 2024 Business Mix Summary
Q1 2024 Business Mix Summary Other Patient 8.5% Pay Capitated 14.0% HME 4.0% Rental 6.1% 32.1% Sleep 38.7% Government Respiratory 18.3% 25.0% Insurance Capitated Sale 61.0% 4.0% 63.9% Supplies to the Home 5.6% Diabetes 18.8% Sale Type Product Payor / Investor Supplement / Q1 2024 4
Slide 5: Revenue by Product
Revenue by Product (in thousands) Three Months Ended March 31, December 31, September 30, June 30, March 31, 2024 2023 2023 2023 2023 Net sales revenue Sleep $ 225,526 $ 240,808 $ 227,005 $ 215,849 $ 213,457 Diabetes 146,979 182,538 157,328 165,021 142,544 Supples to the home 44,648 49,248 48,349 48
Slide 6: Net Revenue Growth
Net Revenue Growth In millions Reported Net Revenue Growth Non-Acquired Net Revenue Growth (1) +6.4% +6.2% 9.7% ~$792 ~$791 8.7% ~$745 ~$745 6.0% 6.2% 4.7% Q1’23 Q1’24 Q1’23 Non- Q1’24 Non- Q1’23 Q2’23 Q3’23 Q4’23 Q1’24 Reported Reported Acquired Acquired (1) Non-Acquired net revenue compares the re
Slide 7: Appendix
Appendix
Slide 8: Non-GAAP Reconciliation
Non-GAAP Reconciliation Three Months Ended March 31, 2024 2023 Revenue Revenue (in thousands, except percentages) Dollars Percentage Dollars Percentage Net (loss) income attributable to AdaptHealth Corp. $ (2,134) (0.3)% $ 15,707 2.1% Income attributable to noncontrolling interests 1,025 0.1% 968 0.
Slide 9: Free Cash Flow
Free Cash Flow (in thousands) Three Months Ended March 31, March 31, 2024 2023 Net cash provided by operating activities $ 49,035 $ 140,248 Purchases of equipment and other fixed assets (87,891) (89,120) Free cash flow $ (38,856) $ 51,128 Free cash flow was negative $38.9 million for the three month
Slide 10: Share Count Information
Share Count Information Total Common and Preferred Stock if (in thousands) Common Stock Preferred Stock (1) Converted Number of shares outstanding, December 31, 2023 132,635 124 145,041 Equity-based compensation activity 300 - 300 Exercise of stock options 177 - 177 Employee stock purchase plan acti
Slide 11: Earnings (Loss) Per Share
Earnings (Loss) Per Share Three Months Ended March 31, (in thousands) 2024 2023 Numerator Net (loss) income attributable to AdaptHealth Corp. $ (2,134) $ 15,707 Less: Earnings allocated to participating securities (1) – 1,327 Net (loss) income for basic EPS $ (2,134) $ 14,380 Change in fair value of